From Bruno de Landevoisin of GoldSwitzerland.com at Slope Of Hope........
It’s painfully clear for all to see that the majestic United States is now firmly caught in the rapacious stranglehold of financial elites which have completely captured it in a grotesque gamed monetary process. Our country’s once idealistic and industrious free market economy has been hijacked and is undeniably being fraudulently and overtly financialized by the craven clutches and maniacal machinations of a contemptible self-seeking banking class. They have become nothing more than avaricious parasites disgustingly feeding from the grand trough of our treasured human ingenuity and self-respecting industry.
Unproductive asset classes of every shape and form are surging in price everywhere as the pumped up folly of the perpetually spewing free money fire hose incessantly flows. Both privileged institutional and private favored recipients of the free flowing Fed funds are climbing all over themselves snatching up existing assets of all kinds, in a vulgar and narcissistic ferocious feeding frenzy. The gluttonous menu includes: Housing, Commercial Property, Farm Land, Fine Art, Vintage Collectibles, Classic Automobiles, Equity Indexes, ETFs, REITs, Options, Currencies, Futures, Precious Metals and Commodities………………………etc.
Just last week the NY auction house Christies, founded in 1766, posted its best week ever in its over 250 year old illustrious history. This is simply non productive wealth formation my twisted malfunctioning friends. It is profoundly unhealthy and decidedly unearned prosperity, as it provides little to no substantial growth value nor functional benefit for the actual working economy on the ground which so many depend upon. True prosperity comes from real authentic wealth creation through genuine tangible production with honest determined human endeavor, not speculative and discreditable self enrichment based primarily on asset inflation deliberately engineered by gross and dishonorable monetary largess.
The brilliance and magnificence of the United States was always characterized by its thriving, hard working and tremendously productive middle class. Today’s disgraceful paper printing artifice that we are currently witnessing is slowly but surely destroying that once proud, noble and unparalleled historic human achievement which was distinctively made in the USA. The diseased America has now set upon the degrading and ignoble course of abusing its hard earned reserve currency status via cheap and decadent monetary debasement in order to save its own deplorable hide, and much of the world is compelled to follow our disgraceful lead as the global financial system continues to circle the descending drain’s virulent vortex.
Astoundingly, even after the devastating economic hardship millions have recently endured, directly due to the destructive consequences of a deliberate, blatantly self serving and utterly unrestrained monetary policy, the Federal Reserve banking cabal remains entirely undeterred. Incredibly, our ignoble and reprehensible financial leadership has once again set out to grossly and irresponsibly inflate yet another set of still more disastrous asset bubbles via the sheer folly of their lethal ZIRP/QE overdose injections. However, this time around they have insanely outdone themselves, glibly generating two gigantic financial doomsday balloons which are rapidly flashing red warning signs of catastrophic consternation.
There can be little doubt that the bottled up bond market and the fanatically reflated stock indices will implode simultaneously as the dubiously engineered pressure cookers each sets off the other’s volatile fuse, igniting a financial fireball of incendiary monetary mayhem, the likes of which the world has never seen, which will surely bring with it economic chaos and human suffering of epic proportions.
My best guess is that this coming Fall season, as the leaves turn bright red, our hapless Government officials will once again demonstrate to the world that they are entirely incapable, unwilling or outright unable to curtail the country’s out of control fiscal deficit spending, while at the same time the Federal Reserve will attempt to put out the raging QE grease fire, at which point critical interest rates will most certainly react violently, suddenly and swiftly spiking sharply higher, which will assuredly blow up the acutely repressed bond market & jacked up stock casino at exactly the wrong time. BADADOOM!!!
In the end, by going along to get along, we are all very much complicit in this wanton uncreative destruction. The Lord openly warned us long ago not to go down this treacherous path, through the unlikely actions of his peace loving son, who in a fit of rage, violently flipped over the tables of the detestable usurious money changers wielding their wicked web in the sacred temple.
Alas, mankind never seems to learn the altruistic and enlightened righteousness of a forthright even-handed means of true money exchange, and once again we will be brutally humbled for our malicious manipulated mendacity, same as it ever was. We should have unquestionably known better and categorically repudiated the repugnant treachery. Our founding fathers deserved so much more from us. We have utterly and miserably failed them.
Shameful indeed Bernanke & Co, we will all pay dearly for your fiat money malfeasance which those of us that certainly knew better so submissively permitted and so cowardly accepted. The unhinged approach of monetary debasement has been repeatedly attempted throughout civilized economic history and has always ended in abject failure. There exist no historical exception to this solemn fact. The only viable protection against the most threatening global monetary repression of all time is direct ownership of physical gold bullion held completely outside the fraudulent financial banking system. Got Gold?